EDITORIAL: Rate hikes not an immediate danger
All five members of the monetary policy committee vote to keep the repo rate unchanged as it lifts its GDP forecast
It looks like change could be in the air as far as SA’s interest rates go, even if the actual policy decision was what analysts expected. For the first time since the height of the Covid-19 induced lockdown, the five members of the Reserve Bank’s monetary policy committee (MPC) were unanimous.
And it was the two — assuming the same people voted the same way throughout — who had been calling for a cut at the previous three meetings that went with the majority. On Thursday, all five members of the committee voted to keep the repo rate unchanged at 3.5%, even as they upgraded their forecasts for GDP growth and inflation...
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